Meticulous Research®, a leader in market research, has published a report titled ‘Precision Irrigation Market by Offering (Solutions, Services), Irrigation Type (Sprinklers Irrigation, Drip Irrigation, Surface Irrigation), End User (Agriculture, Turf & Sport Fields, Residential), and Geography – Global Forecast to 2030.’ The report forecasts that the global precision irrigation market will reach $4.2 billion by 2030, growing at a CAGR of 11.7%. Key factors driving this growth include the rising need for water conservation, the adoption of precision irrigation to increase crop productivity, and supportive government policies offering subsidies and low-interest loans for the implementation of irrigation systems.
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Precision irrigation systems are becoming increasingly important in the face of global water scarcity and the need for sustainable agricultural practices. These systems allow farmers to use water more efficiently while maintaining high levels of productivity. However, high upfront costs for hardware, software, and infrastructure pose a significant barrier to widespread adoption, particularly among small and medium-sized farms.
The report highlights the growing investment in sensor-based systems and automated irrigation controllers as a major growth opportunity for the market. These systems allow for real-time monitoring of soil conditions and water usage, enabling farmers to optimize irrigation schedules. However, connectivity challenges, especially in rural areas, are a key obstacle for market players, as the lack of internet access can limit the functionality of these systems.
The market is segmented by offering into solutions (hardware and software) and services. In 2024, the solutions segment is expected to account for the largest share of the market. This is attributed to the increasing use of technology-driven solutions that provide data on soil moisture, weather patterns, and plant health, helping farmers make informed irrigation decisions. The need for large-scale farming operations to conserve water and reduce labor costs is also contributing to the growth of this segment.
Moreover, the solutions segment is projected to register the highest CAGR during the forecast period. The increasing demand for real-time insights into crop health and soil conditions is driving the adoption of these solutions. As farmers continue to adopt data-driven approaches to agriculture, the precision irrigation market is expected to see substantial growth in this area.
In terms of irrigation types, the market is divided into surface irrigation, sprinkler irrigation, drip irrigation, and center pivot irrigation. Sprinkler irrigation is expected to hold the largest market share by 2024, driven by its efficiency in distributing water evenly across large fields. The need to protect crops from high temperatures and the growing use of sprinklers for high-value plantation crops such as coffee and fruits are also contributing to this segment’s growth.
The sprinkler irrigation segment is also forecast to record the highest CAGR during the forecast period. The increasing adoption of sprinklers for their versatility and cost-effectiveness in various agricultural settings is driving the growth of this segment, particularly in regions facing water shortages and unpredictable weather conditions.
The report further segments the market by end user, with the agriculture sector expected to dominate by 2024. Precision irrigation systems are being widely adopted in agriculture to improve resource efficiency and enhance crop yields. Farmers are increasingly looking for ways to reduce water and fertilizer usage while maintaining high levels of productivity, making precision irrigation systems an attractive option.
While the agriculture sector leads in terms of market share, other sectors such as residential areas, sports fields, and parks are also seeing increasing adoption of precision irrigation systems. However, the growing global demand for food and the need for sustainable farming practices continue to make agriculture the largest and fastest-growing market for these systems.
Geographically, the precision irrigation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to account for the largest market share by 2024, driven by the region’s need to maximize agricultural productivity to meet the demands of its growing population. Government policies promoting sustainable farming and water conservation are also supporting the adoption of precision irrigation systems in this region.
Additionally, the Asia-Pacific region is forecast to register the highest CAGR during the forecast period. Countries such as China and India are adopting precision irrigation technologies at a rapid pace, supported by advancements in agricultural technology and a focus on improving resource efficiency. As the region continues to prioritize food security and environmental sustainability, precision irrigation systems will play a key role in meeting these challenges.
Key Players:
The key players operating in the precision irrigation market include Netafim Limited (Israel) (A Subsidiary of Orbia Advance Corporation, S.A.B. de C.V.), Deere & Company (U.S.), Jain Irrigation Systems Ltd. (India), Lindsay Corporation (U.S.), Nelson Irrigation Corporation (U.S.), Saturas ltd. (Israel), The Toro Company (U.S.), Valmont Industries Inc. (U.S.), T-L IRRIGATION CO. (U.S.), Viridix Ltd. (Israel), Mahindra EPC Irrigation Limited (India), Chinadrip Irrigation Equipment Co.Ltd. (China), Libelium Comunicaciones Distribuidas S.L. (Spain), CropX Technologies Ltd. (Australia), and ONDO (Balkans).
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Key questions answered in the report.
- Which are the high-growth market segments based on offering, irrigation type, end user, and geography?
- What was the historical market for precision irrigation?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, challenges, and trends in the precision irrigation market?
- Who are the major players, and what shares do they hold in the precision irrigation market?
- What is the competitive landscape like in the precision irrigation market?
- What are the recent developments in the precision irrigation market?
- What are the different strategies adopted by the major players in the precision irrigation market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the precision irrigation market, and how do they compete with the other players?
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